Bitmine boosts ether stockpile to 5.78 million tokens, funds buyback with slower buying
Macro & Markets ·
The company added 7,430 ETH last week while trimming its weekly purchase pace to finance a $4 billion share repurchase plan.
Bitmine Immersion Technologies has grown its ether treasury to 5.78 million ETH, according to The Block, which also reported that the firm bought back 5.5 million shares as part of the ongoing buyback program. A company release cited by PR Newswire puts combined crypto and cash holdings at $11.5 billion, with the ether position alone valued near $10.9 billion.
The latest addition came to 7,430 ETH for the week, a figure confirmed across multiple accounts of the accumulation. That pace marks a sharp slowdown from prior weeks: CryptoPotato reports the company cut its weekly ether purchases by 76 percent, redirecting capital toward the stock repurchase effort rather than halting accumulation altogether. Despite the reduced buying rate, the report notes the firm's stance on ether remains unchanged.
The scale of the holding is notable relative to ether's total circulating supply. Coverage from WuBlockchain places Bitmine's stash at roughly 4.8 percent of all ETH in existence. Staking figures diverge slightly between accounts — one report puts staked ether at 4.91 million tokens, while another cited via an on-chain tracking post describes 85 percent of the treasury as staked — but both point to the bulk of the position generating yield rather than sitting idle.
The dual strategy of shrinking weekly token purchases while expanding a multibillion-dollar buyback signals an effort to balance treasury growth against shareholder returns. Funding a $4 billion repurchase program alongside continued, if slower, ether accumulation suggests the company is managing liquidity across two fronts simultaneously rather than prioritizing one at the expense of the other.
What remains unclear is how long the reduced purchase pace will persist and whether the buyback program will scale further as more shares are retired. The discrepancy in reported staking percentages also has not been reconciled across the various accounts tracking the treasury. Additional weekly disclosures from the company, along with any updated guidance on the repurchase program's remaining capacity, would clarify the trajectory of both efforts.